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IT trade surplus breaks record again in April
May 12, 2010
Korea's IT exports recorded US$12.7 bil. in April, a 34.1% increase from the same month the previous year, the Ministry of Knowledge Economy said on May 6.Exports of semiconductors and display panels in particular hit a second record high in six months. Semiconductor exports gain...

American industrial gas giant Praxair eyes BJFEZ
May 10, 2010
Praxair, an American based multi-national company operating in over 30 Countries with a staff of 27,000 and with sales of $9 billion (USD) in 2009, signed an MOU on May 3rd, 2010 with the Busan-Jinhae Free Economic Zone Authority (BJFEZ), with the intention to build a 33,000 m2 f...

KEPCO, POSCO join hands for development of nuclear ener...
May 07, 2010
The Korea Electric Power Corporation and the world’s second largest steelmaker (in terms of market value) POSCO agreed on May 3 to work together to locally manufacture key materials needed at nuclear power plants, and signed a Memorandum of Understanding to formalize that agreeme...

Gov't grants multiple entry visas for overseas plant or...
May 06, 2010
The government is joining efforts to assist Korean businesses to attract more contracts for overseas plant construction. The Ministry of Justice announced last Monday (Apr. 25) that it decided to issue 2-year multiple entry visas for public officials and businesspeople of the c...

Q1 economic growth highest in 7 years
May 06, 2010
Korea’s economic growth in the first quarter stood at 7.8 percent, the highest in almost a decade, the government announced on Apr. 27.The national economic recovery seems to have gained more ground over the first three months, helped by balanced growth in public and private sect...

Saemangeum Seawall: road to economic boom
May 03, 2010
On April 27, the construction project on Saemangeum, the world’s longest seawall (33km) was completed and opened to the public. The massive dike took about twenty years to finally be sealed.  It links Gunsan City and Buan County in North Jeolla Province, shortening travel di...

Korea sits on top again in global shipbuilding orders
Apr 30, 2010
Korea has snatched the top spot for global shipbuilding orders in the first quarter of 2010, beating out China. Korea had ranked second in the field in the year 2009.According to the Ministry of Knowledge Economy, new orders commissioned by Korean ship makers in the period cited ...

Gov’t to increase cash assistance for FDI next year
Apr 30, 2010
Cash assistance for foreign direct investment (FDI) will be scaled up starting from next year. A special district for foreign investment specializing in the service industry will be in full operation from September this year. The Ministry of Knowledge Economy announced Sunday (...

JABEZ to invest 120 billion won in Seoul’s Digital Medi...
Apr 22, 2010
A U.S.-based high-tech investment firm, JABEZ International Corporation, will invest about 120 billion won (US$100 million) in the Digital Media City (DMC) in Sangam-dong, Seoul. Seoul City and JABEZ International signed a memorandum of understanding (MOU) to cooperate and join...

Achievements by Seoul City in overseas marketing
Apr 21, 2010
Seoul introduces public marketing concept into administration, taking first step to raise city’s brand awareness The competitiveness of a country stems from that of its city. Also, it is not too much to say that the brand value of a country is formed by that of its city. In that...